Asian equities rose for a fifth consecutive day, extending their lead over U.S. markets in 2026, as investors were drawn by relatively cheaper valuations and firmer growth prospects.
The MSCI Asia Pacific Index gained 0.5% to a record, marking an approximate 13% increase so far this year—its best start relative to the S&P 500 this century. In contrast, the S&P 500 has risen just 1.4% in the same period.
South Korea’s benchmark surged 2.2%, making it the world’s best-performing market, with Samsung Electronics Co. among the top contributors. Futures indicated that Asian gains could extend to European and U.S. markets.
Meanwhile, U.S. Treasuries remained under pressure, with the yield on the benchmark 10-year note at 4.18%. Traders scaled back expectations for interest-rate cuts by the Federal Reserve this year following stronger-than-expected U.S. jobs data. The economy added 130,000 roles in January, double forecasts, prompting money markets to price in the Fed’s next cut in July, instead of June previously.
